CITI: The 'Poor Man's Gold' Trade Could Cause Silver Prices To Surge

Tom Fitzpatrick, a top technical analyst at Citi, continues to be bullish on gold
and oil.

But in his latest commentary for
King World News, he argues that the charts are looking
bullish for silver.

Silver has also
held nicely above the $27 level, and very recently we have seen
silver begin to outperform gold. The silver chart looks
very bullish. We believe that silver will continue to
outperform gold in this breakout move.
...
The trend line down and 200 day moving average are under threat
at $30.37-48 (see chart below). A weekly close above (200
day moving average) would open the way for the double bottom
neckline at $37.47 (23% away). As gold goes higher, do not
be surprised if Silver becomes the “poor man’s gold trade” and
plays some catch up.